Why bitcoin is not supported in some countries?

[kurt1212]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

I think maybe because they think that bitcoin is untrustworthy and this is a gamble and theres a lot scammers in this system.They think bitcoin is not appropriate to be a sustainer of those poor people who dont have work or anything.

[MoonHodler]

it is a new financial system, some countries do not understand it / cannot guarantee its results.

[marites]

They not have supported it because they thought bitcoin is a scam.
They even no about the benefits of bitcoin to their government .
So they just dump it .

[oracleongoodbye]

I think that the government is not really afraid of bitcoin, what they are afraid of is people waking up from the ugly truth hat they are just mere slaves of fiat for over 300 years now and they would lose a lot of control to the people of their jurisdictions. If they started to use bitcoin regularly over fiat, that means they are slowlh losing grip of their people for their own personal gains, which they absolutely don't want to happen.

[Danielavgonz]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

taxes , because of that

[bololord]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

Yes it is not YET supported in some countries, but soon they will i guess. I think some government really restricted bitcoin on their country to protect their citizens from scams and unregistered ICO's or they are really scared that bitcoin will be their new financial system rather than the banking system they have. Nonetheless, government is really trying to study the bitcoin to ensure the consumers security.

[geegaw]

Other reason I see is  its misuse, Every other people is now aware that bitcoin transaction is anonymous and almost every criminal use it for wrong activities like selling drugs, guns which make them unsafe and for cops its become hard to reach them or track them down.

It is too suitable for bad and illegal activities, that is really something that some countries do not want to support bitcoin, we can not live in a country where illegal activities occur continuously, society will be chaotic, we can hardly work in peace. In addition, some countries can say that the economic situation and the technology is very backward, they want to support bitcoin is also impossible when the condition is not allowed, but I believe that someday, these countries will also find ways to support bitcoin, although bitcoin has some bad side but it also has a very positive effect on the economy, not supporting it will be a loss

[bizzargin]

There are many people in the world and many opinions. Everyone adheres to their thoughts, knowledge and experience. Many simply do not want to learn something new.

[Mwalshe89]

They can and want, but they have enough experience and can not understand how to work with what they have learned. I think this is precisely what prevents many countries from developing on a par with others.

[bizzargin]

Many countries have a different policy. They are not interested in what is happening all over the world. for example, a historical phenomenon like the USSR. They existed within themselves and they did not need someone's cryptocurrency.

[Mwalshe89]

Many countries have a different policy. They are not interested in what is happening all over the world. for example, a historical phenomenon like the USSR. They existed within themselves and they did not need someone's cryptocurrency.

Well, the crypts were not there. And It clearly showed that if a country lives within itself only, then sooner or later this ideology becomes destructive for themselves.

[bizzargin]

But in my country it is not prohibited, but there is no official permission. While the government behaves with restraint in this matter.

[Mwalshe89]

But in my country it is not prohibited, but there is no official permission. While the government behaves with restraint in this matter.

I, too, have not yet encountered a problem in this area. But I have not seen any billboards on the street yet.

[TonyChikago]

As I've said before that the country should be able to control the full finance used inhabitants, bitcoin is common. Everyone can use the bitcoin so that countries consider bitcoin is unlikely to use legally by the State.

[Akosibatman]

It because some countries consider that bitcoin can be "financially harmed" to them and also because other country, bitcoin break their law.  They are not considering bitcoin as legal and can their people can be easily scam because of its ignorance on the system. The number one reason for countries who banned bitcoin is its high risk.

[ace4549]

I think the other countries bans bitcoin not because they consider it as a illegal but they are not capable to accept the partnership with their countries since they are not well technologically advanced.

[bitcoinVPSD]

I think bitcoin is not supported in some countries because they fear it will adversely affect their economies. Bitcoins are also the target of many criminals. causing insecurity. The government does not benefit from bitcoin because it is not taxed

[bitpotter]

Maybe in other countries have their own rules that do not want to be involved in bitcoin because of the government that prohibits every country

[Yantoaja]

Yes, bitcoin it's risky. Their countries, Their laws. Because bitcoin it's untouchable, many government from other countries still not support bitcoin because bitcoin can't touch by government and they can't control it. Some countries don't want take a risky. And as we know price of bitcoin is not balance, and many countries thing that will be destroy the economy from their country.

[syamster]

I think the reason behind why there are some countries who do not support bitcoin is the lack of capacity they have.  They are not yet well develop so the company of bitcoin will not be able to establish a good service.

The countries where bitcoin is not recognized are the ones where the governments are having insecurities over the use of the bitcoin. Now the western developed countries have no fear because if the money is shifted to some other country, their economical cycle still can survive because they are economically sound countries but if the under developed countries starts supporting them, then there are chances that the demand of their own national currency will go down and eventually this will effect their economy.